Leading publicly traded enterprises focused on Bitcoin mining collectively generated approximately $800 million in Bitcoin value during the initial quarter of 2025. This performance indicates continued expansion within the Bitcoin mining industry, supported by Bitcoin’s consistently high market value.
Data compiled by Cointelegraph from publicly available sources reveals that these prominent Bitcoin mining firms together produced more than 9,700 Bitcoin (BTC) in the first three months of the year. With Bitcoin’s price hovering around $81,600 at the time of this report, the total output translates to an approximate value of $800 million.
Mara, recognized as the largest Bitcoin mining operation based on market capitalization, topped the production charts with 2,285 Bitcoin mined in Q1, an output valued at roughly $186 million.
On April 3rd, Mara disclosed its March production figures, reporting 829 BTC mined during the month. This represents a 17.4% increase over February’s output and a 10.5% rise compared to January.
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Bitcoin Miners Achieve 9,746 BTC Output in Q1 2025
CleanSpark secured the second-highest position, having mined 1,950 BTC during the quarter, equating to approximately $160 million. CleanSpark also recorded a 13.4% increase in production from February to March.
Iren, previously known as Iris Energy, claimed the third position in terms of quarterly production. The company announced a total of 1,513 BTC mined, with an approximate value of $124 million.
The firm’s March production of 533 BTC reflected a 16.1% increase from its February numbers. CompaniesMarketCap identifies Iren as the sixth-largest Bitcoin miner when ranked by market capitalization.
Riot Blockchain, which stands second only to Mara in market capitalization, held the fourth-highest Bitcoin production figure for the quarter.
The company reported a total of 1,428 BTC mined (roughly $117 million) throughout the quarter. Similar to Iren, Riot produced 533 BTC in March, marking a 13.4% rise compared to February.
Top Bitcoin miners by market cap. Source: CompaniesMarketCap
Hut8 Demonstrates 91% Surge in Bitcoin Production
Hut 8 Mining, although reporting the lowest Bitcoin production volume among the featured top miners, demonstrated the highest rate of growth. The company mined 199 BTC in Q1, valued near $16 million, encompassing 88 BTC in March alone. This outcome represents an impressive 91% increase compared to the 46 BTC mined in February.
On March 31st, Hut 8 entered into a partnership with Donald Trump Jr. and Eric Trump, sons of former US President Donald Trump, to initiate a new mining venture known as American Bitcoin. The core objective of this project is to establish itself as the “world’s largest, most efficient pure-play Bitcoin miner.”
In a prior interview with Cointelegraph, Hut 8’s CEO, Asher Genoot, stated the company’s ambition to lead the US Bitcoin mining sector. Genoot indicated plans to develop a major, exceptionally efficient Bitcoin mining platform anchored within the United States.
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